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Edenred keeps 2019 guidance as Q1 revenue rises

Reuters

April 18 () - French vouchers and card provider Edenred kept its guidance for 2019 unchanged on Thursday, as its total revenue rose in the first quarter amid growth in all of its divisions.

The company, which competes with Sodexo , said it still expected like-for-like operating revenue growth of more than 7 percent this year, as well as like-for-like growth in earnings before interest and tax (EBIT) of more than 9 percent.

It reported total revenue in the first quarter of 383 million euros ($433 million), up 15.3 percent from a year earlier.

"Double-digit growth has been recorded in all of our business lines and in all of the regions where we operate," Edenred Chairman and CEO Bertrand Dumazy said in a statement.

Growth was particularly strong outside Europe, helped by the acquisition of U.S. payment solutions provider CSI.

Edenred struck several acquisition deals in 2018 and said it was looking for opportunities in other markets, including Asia.

($1 = 0.8853 euros)


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